New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1887-06-07
OLosIya Prices OF pHrLA DEhPaM STOCKS

MONDAY June 6-r.
Touching the monetary question, which at present
ceves much prominence in speculative circles
postpone any real sringency if there any ground
for anticipating event t Is OF interest 10
that the SubTrcasurys indebtedness at the Clearing
House Saturday and to-day aggregated Sl,lSs.Gl3
which indicates that the sub-freasury's report
OF receipts and payments for the two days.
which shows an excess OF payments
receipts of s67o53s. unnuenced by transfers
with other branches the department AtWasaington
day the deposits and Withdrawals of bonds to
National bank note circulation exactly balanced each
other each 81 10000. The foreign exchanges to-
day declined, for sterling 20 1i2 within the point
whore, with the money markets OF London aud New
York they now are. gold imports will pay profit.
Tho weakness In exchange due to the liberal supply OF
bankers bills drawn against securities negotiated abroad
II has been inimaed that the bills are drawn against
loans mado to spectators Stock Exchange,
but the absolute duness OF the stock Exchange markets
forbids the acceptance OF such theory Aside from its
purchase in market OF considerable amounts IF old
securities Europe recently has taken several issues
of railroad bonds that scarcely yet dealt In here All
talk s;rngeucynot actively beca OF legitimate
prosperty-n money is either with intent to Influence
Stock Exchange values based upon superficial obser
vations.
Tho announcement this morning that the Chicago. Nil.
waukee and ST. Paul Railroad Company had authorized
an issue OF 900 additional stock for the purchase
OF the Chicago and Evanston Railroad and for extension
of its lines, eagerly seized upon as motor TO DO
press the vaue OF that stock in particular and of the
whole list in general The absurdity OF the ropost.
ton is clearly upon little reflection;
but Wall street operators frequently act
from impulse and reflect aftcrwari. Every one knows
that tue St Paul Company for years has been pariic
larry aggressive in pushing the extension OF It's lines and
that 10 do IL has continuously made issues OF bonds TO
provide the necessary funds These frequent issues OF
bonds have affected tie market value Of the COM
pany's stocks. But 1t makes departure and
proposes provide funds from the issue OF stock Instead
OF from the issue Indebtedness, aad the Stock TX
changes present headers" In tho conservative
change for the depression OF al values NO
official Of tie issue or OF It's terms ms yet
been made but seems probable that the scheme Is TO
issue OF stock in exchange for the SoOOOoO
stock of the Chicago, Evanston and Lake Superior stock
and 81 the stockholders ut So per cent tho
required 10 meet the proposed extensions OF ST.
Paurs own lines On this fmsy preteXt OF watering
Of the stock ST. Panl opened OF L per cent at
92Ia ana pressed for sale down TO OH Its effect
unon the general market 10 check operations ami
make tie marking of lower quotations easy matter
There is nothing more demoralZing in the stock market
than mystery and the officials Of the ST. Pdu company
are eupabe falling 10 give public notice Of all tho
particulars OF the proposed issue the purposes and
the exact terms Of the issue. The neglect 10 do gives
the opportunity for The charge which to-day made.
that some directors of the ST. Paul company who
are reported TO have been OF the Chicago and
Evanston company arc gagged il stock deal based
upon their knowledge six months aso OF what was In
tended to be DONE St. Paul contributed $4,000 shares TO
the days total transactions OF 266,920 shares. The ot
tect OF the Paul episode upon general prices WAS lin.
i'ed 10 small fractions, and there was some
recovery from the extreme declines, although Gui-
ness was the marked feature OF the market western
Union furnished 65 shares 10 the days total bust
ness and finally marked an advance OF Il per cent
After the had been established became COM
mon that at the directors meeting on Wednesday
dividend OF per cent would he declared For this We
cannot vouch. but there is question that the s!ae
ment u be issued will make very favorable exhibit
The market genera lly closed strong
Governmeft bonds were du aad steady Annexed are
the closing quotations: